Is now a good time to buy gold? Or is it even a wise decision to buy gold at all?

I would recommend gold to diversify your portfolio. Gold itself might be expensive but there are ETFs like GLDm (gold minishares) where you can buy a fraction of gold. ETFs works like stocks and the price of GLDm is around $19 per share now. So i recommend having some gold in your portfolio for diversification

Treat it as an asset class. Pick a stategy that you can follow. For some, they limit exposure to 5% of their assets, some would go for a higher allocation. I'm not a huge believer that gold is a great tool for long-term inflation hedge, numerically, the numbers work against that argument.

https://knowledge.wharton.upenn.edu/article/inv...

You can refer to one of my greatest resources for returns over a century, Jeremy Siegel. As he very aptly puts it, "Gold is a very expensive insurance policy over the long run."

But I have modelled some portfolios and backtested them with some element of gold for the last 10 years, when done correctly, it does beat the S&P500 return. But whether that would continue is a question I am unable to answer. Hence, stick to your comfort range for allocation.​​​